By: Huntsville Real Estate Expert Mike Manosky On April 29, 2010
Selling your Huntsville home is more than just setting a sale price and placing a sign in your front yard. It is an emotional process that can be stressful and frustrating. Here’s what you can expect to face:
Putting your Huntsville home on the market. You may have a difficult time deciding to put your house on the market even if you are being forced to move because of work or family situations. Your home holds memories that can be difficult to leave behind. You may even second guess your decision. This is a normal reaction.
Showing your home to potential buyers. As buyers walk through your home, you may begin experiencing a new set of emotions. Your home will usually be cleared of excessive family mementos and seem lifeless to you. Keeping your home clean for a showing can also take away precious time and increase your stress load.
Negotiating an offer. You obviously want to make as much profit as possible. As you review buyers’ offers, you may wonder if you are asking too much or too little. You may feel insulted by a too low offer. Even after signing a contract, there is still fear that the deal may fall through.
By: Huntsville Real Estate Expert Mike Manosky On April 26, 2010
The FHA, or Federal Housing Administration, has helped many a homeowner buy a Huntsville home for sale by providing mortgage insurance through FHA-approved lenders. However, a change in policy, announced in January, may make it harder for those with poor credit.
Before we talk about FHA’s change in policy, let’s cover a few of the basics about the FHA and how it might help you buy a Huntsville home for sale.
What is the FHA?
The FHA is a government agency that provides mortgage insurance to approved lending institutions. It assists homebuyers by providing mortgage insurance to lenders to cover most losses that may occur when a borrower defaults. This encourages lenders to make loans to borrowers who might otherwise not be able to get a loan.
What is an FHA Loan?
An FHA loan is a loan provided by an FHA-approved lender and insured by the FHA. In other words, the FHA guarantees that a lender won’t have to write off a loan if the borrower defaults – the FHA will pay. Because of this guarantee, lenders are willing to make mortgage loans.
An FHA loan might help you get a mortgage by providing:
By: Huntsville Real Estate Expert Mike Manosky On April 24, 2010
Pending home sales rose sharply in February, potentially signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of Realtors®. Contracts signed in February, rose 8.2 percent above February 2009. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in pending sales may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten. We need a second surge to reduce inventory and stabilize home values.”
Take a look at how Huntsville AL real estate sales statistics in March 2010 compared to March 2009.
Madison County/Huntsville AL Real Estate Sales Statistics
Huntsville and Madison County saw an increase of 40% in sold listings when compared to Feburary 2010. The average sales price decreased by 1% to $177,722. The average price per square foot increased by 3% when compared with Feburary 2010. And the average list price decreased by 1%, while homes were on the market an average of 1 days less than March 2010.
Date
Sold Listings
Average List Price
Average Sale Price
Percent SP/LP
Average DOM
Average Price Sqft
Mar 2010
387
$183,027
$177,722
98.07%
89
$88
Feb 2010
234
$183,834
$178,805
98.54%
90
$85
As Mr. Yun said and these statistics show a second home surge maybe coming this spring, which will help reduce inventory and stabilze home prices. For more information about Huntsville AL real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.
By: Huntsville Real Estate Expert Mike Manosky On April 19, 2010
Pictures are one of the most important parts of your home’s marketing plan. They are usually the first thing potential buyers see and can be a deciding factor in whether or not they actually walk through your home. Here are some photo tips for taking the best possible pictures of your Huntsville home:
Choose the right time of day. Lighting is the single most important factor in taking a good picture. Shoot on a bright, sunny day. Use natural light, when possible, inside your home. If your Huntsville home has a beautiful view of the sunrise or sunset, take a photo of the view during that time.
Prepare your home. Make sure your home is clean and the yard is free of debris. Keep the pets and children out of your photographs. Remember, this is your buyer’s first impression, and they want to see your home.
Find the right angle. Don’t take flat pictures, like a dead-on photo of the front of your house from the street or a single shot of the bedroom from the doorway. Angles create definition. Get creative. Stand on chairs or ladders for interesting photographs.
Use a digital camera. Digital cameras are surprisingly affordable. You can take as many pictures as you want, choose the best shots, and easily upload or email them without the time-consuming scanning process. (more…)
By: Huntsville Real Estate Expert Mike Manosky On April 15, 2010
Thousands of potential buyers of homes for sale in Huntsville are now homeowners, thanks to the first-time home buyer tax credit. You could be eligible for a tax credit if you bought a home in 2009 or plan to buy one before April 30, 2010. But which one are you eligible for?
If you have two or three hours to spend reading the information about the homebuyer tax credit, you’ll be able to figure out if you’re eligible. But, most people don’t have the time or patience. To shorten your learning curve, here are a few tips, pointers and frequently asked (and answered) questions about the tax credit:
Three Kinds of Homebuyer Tax Credits
There are actually three kinds of tax credits:
The original first-time home buyer tax credit, enacted in 2008, covers the homes for sale Huntsville that went off the market between April 9, 2008 and June 30, 2009. Rather than being a true credit, the money received is actually a 15-year, interest-free loan. In other words, it has to be paid back.
The second tax credit, raised from a maximum of $7,500 to $8,000, doesn’t have to be paid back. If you bought a home between January 1, 2009 and November 30, 2009, you may be eligible.
The third home buyer tax credit, enacted in November 2009, is actually an expansion and extension of the second credit. It extends the deadline of November 30, 2009 to April 30, 2010 and expands the credit to include long-term homeowners who want to buy a new residence.
Check out the neighborhood. Before you do any work to the property, walk through the neighborhood and take note of the property exteriors. What kind of landscaping do they have? Which colors do you see on the front doors? What type of siding do most of the homes have? There is no point in spending extra money for amenities the other homes don’t have.
Start with the exterior. If you begin your work on the outside, you will already create interest in people watching you work. This also tends to be relatively simple work. Trim the shrubs. Replace dead plants. Weed the flower beds. Paint the home’s exterior and window trim.
Tackle the interior. You have two options for working inside: complete specific tasks throughout the entire home or work in individual rooms. Some people like to see the progress of completing a room; others like to see entire tasks, like painting, done at one time. No matter what you choose to do, start by removing the carpet. Take down switch plates. Remove the interior doors. Repair the walls. Fill in nail holes. Paint everything in neutral earth tones. (more…)
By: Huntsville Real Estate Expert Mike Manosky On April 9, 2010
If you watch television home improvement shows, you’ve surely seen shows about rehabbing homes. When you buy Huntsville real estate that needs repairs, you can get it for a great price and build instant equity once the work is complete. Whether you decide to live in the rehabbed home or sell it, you’ve gotten a good deal.
Buy low. The good news is that homes needing work usually already have discounted prices. You want to buy the home for as little as possible because you are going to have to spend more money rehabbing the home.
Have a budget. You need to know before you begin the project exactly how much money you have to spend. Include the cost of the house, labor costs, permits, and the price of materials. Don’t leave out anything, and do everything in your power to stick to the budget you set.
Take good notes. Walk through the home with at least a flashlight and a way to write down notes. Count the number of windows, doors, and rooms. Write down anything you see that will need to be replaced or repaired, including flooring, walls and ceilings. Include anything that seems out of the ordinary to you. These notes will help you plan your rehab.
Spread out southern style in this spectacular custom home in The Hampton Cove Area. The inviting covered porch offers gorgeous views of the mountains. A comfortable and convenient floor plan with distinctive finishes! A formal dining room with wood floors, custom crown molding, triple window with transom and wainscoting for formal entertaining. The spacious family room with double sided gas fireplace for ambiance is perfect for large family gatherings. Grab a good book and step into the gorgeous sunroom with tile floors and wall of windows you may want to stay awhile. Serve up your sweeties at the breakfast bar in the gourmet kitchen! The beautiful cabinets, stainless appliances, granite countertops and tile floors are sure to please the chef in your family. When you are ready to call it a day, immerse yourself in the master suite with trey ceilings, separate shower, vanity, dual sinks, and a whirlpool tub for relaxing nights. Three additional bedrooms are well portioned for your growing family. Keep that laundry organized in the separate laundry room with cabinets. Let the sprinkler system keep your yard in shape while you relax and enjoy the fabulous views. Call us today for your private showing.
Impress your guests with the casual elegance of this four bedroom, three bath home in exciting Riverwoods. They will envy you from the moment they enter the quiet cul-de-sac and drive up to the ranch with stone front and columns to greet them as they step into the dazzling foyer with high ceilings. French doors, triple windows, vaulted ceilings and columns will welcome your guest into the formal dining room and elegant living room. The family-sized great room will be the family’s favorite gathering spot with its soaring vaulted ceilings and gas fireplace. The bright kitchen with breakfast area includes all the amenities for creating your culinary masterpieces. You’ll enjoy retreating to the master suite with garden tub, separate shower, raised dual vanities, and his and her closets. The additional 3 bedrooms are all spacious. A relaxing screened porch welcomes your guests and is the perfect place to sit and enjoy the morning paper. Backyard cookouts are sure to be memorable on the patio overlooking the oversized private tree lined backyard. The 2 car garage plus a storage building with utilities will make dad happy to have his own space. The sprinkle system water the lawn as you sit back, relax in and enjoy country living at its best with amenities galore.
Learn more about 132 Swan Pond Drive and other Huntsville real estate by visiting MoveToHuntsville.com.
Real estate agents were excited as well, because the tax credit extension expanded to include “upgrade” buyers – those who wanted to replace their current home with a bigger one. The possibility of selling a home was higher than it’d been in a while. However, expansion to include upgrade buyers wasn’t the only change.
If you’re hoping to buy a Huntsville home for sale and take advantage of the tax credit before the new 2010 deadlines, here are a few things to keep in mind:
Two dates are crucial. You must sign a contract before April 30. The closings must be complete by June 30. One of the best ways to make sure things go smoothly is to get pre-approved for a mortgage before you go home shopping. Pre-approval tells you, as well as the seller, exactly how much home you can afford. This way, you don’t waste your time or the seller’s.
Negotiate without emotion. Potential buyers have lost the home of their dreams because they became competitive. If you’re negotiating for closing costs, housing price or anything else, make sure that your requests are reasonable. Don’t change something “just because.”
Taxes must be mailed in. Due to people trying to scam the system, you won’t be able to file your taxes electronically; you’ll have to mail them in. Make sure you’re using the right forms, and, if you need your tax refund by a specific time, you might want to file early.
Documentation is truly priceless. Again, thanks to scammers, buyers will have to include a signed mortgage statement, proof of residency and a driver’s license with their taxes.
You still have until April 30 to sign a contract on a Huntsville home for sale to get the tax credit. Today’s real estate market is beneficial for buyers. Put it to work for you!
If you’d like to take advantage of the homebuyer tax credit, I can help. Call me right away at 800-803-0053, 256-508-0211 or email me at mike@movetohuntsville.com so we can beat the deadlines.
Selling your Huntsville home is more than just setting a sale price and placing a sign in your front yard. It is an emotional process that can be stressful and frustrating. Here’s what you can expect to face:
The FHA is a government agency that provides mortgage insurance to approved lending institutions. It assists homebuyers by providing mortgage insurance to lenders to cover most losses that may occur when a borrower defaults. This encourages lenders to make loans to borrowers who might otherwise not be able to get a loan.
Choose the right time of day. 
The 
Start with the exterior. If you begin your work on the outside, you will already create interest in people watching you work. This also tends to be relatively simple work. Trim the shrubs. Replace dead plants. Weed the flower beds. Paint the home’s exterior and window trim.
Buy low. The good news is that homes needing work usually already have discounted prices. You want to buy the home for as little as possible because you are going to have to spend more money rehabbing the home.
Real estate agents were excited as well, because the tax credit extension expanded to include “upgrade” buyers – those who wanted to replace their current home with a bigger one. The possibility of selling a home was higher than it’d been in a while. However, expansion to include upgrade buyers wasn’t the only change.